Market Movements & Momentum
As the financial and tech world continues its swift evolution, the latest headlines paint a vivid picture of shifting tides and emerging opportunities.French fintech Pennylane has surged forward, doubling its valuation to a remarkable $2.2 billion, signaling strong investor confidence and a growing appetite for streamlined financial solutions across Europe.In contrast, Tesla faced a setback, reporting a 13% drop in Q1 2025 deliveries, sparking conversations about market saturation, supply chain dynamics, and increasing competition in the EV space.
Meanwhile, Ola Electric unveiled its bold step into high-performance two-wheelers with the new Roadster series motorcycles, aiming to electrify urban mobility and challenge traditional players in the global motorcycle market.
French fintech Pennylane doubles valuation to $2.2 billion
French accounting software firm Pennylane has doubled its valuation to 2 billion euros ($2.16 billion) in a new 75 million euro funding round.
Pennylane told CNBC that it raised the fresh funds from a host of venture funds, co-led by Sequoia Capital, Alphabet’s CapitalG and Meritech. DST Global also participated in the round.
Founded in 2020, Pennylane sells what it calls an “all-in-one” accounting platform that’s used by accountants and other financial professionals.
The platform is primarily targeted toward small to medium-sized firms, offering tools for functions spanning expenses, invoicing, cash flow management and financial forecasting.France. However, after the new fundraise, the startup now plans to expand its services across Europe — starting with Germany in the summer.
“It’s going to be a lot of work. It took us approximately five years to have a product mature in France,” Waller said, adding that he hopes to reach product maturity in Germany in a shorter time period of two years.
Pennylane plans to end the year on about 100 million euros of annual recurring revenue — a measure of annual revenue generated from subscriptions that renew each year.We are going to get breakeven by end of the year,” Waller said, adding that Pennylane runs on lower customer acquisition costs than other fintechs. “75% of our costs are R&D [research and development],” he added.
Pennylane also plans to boost hiring after the new funding round. It is looking to grow to 800 employees by the end of 2025, up from 550 currently.We came in tailoring a product that looks a bit like [Intuit’s
] QuickBooks or Xero
but adapting it to the needs of continental accountants, starting with France,” Pennylane’s CEO and co-founder Arthur Waller told CNBC.
Pennylane currently serves around 4,500 accounting firms and more than 350,000 small and medium-sized enterprises. The startup was previously valued at 1 billion euros in a 2024 investment round.
Tesla deliveries drop 13% in Q1 2025
The first quarter of the year has not been kind to EV maker Tesla – the company reported a significant drop in vehicle deliveries for the three months ended March 2025, marking a 13% year-over-year decline as it faces challenges in both production and market demand.
The EV manufacturer delivered 336,681 vehicles during the January-March period, falling well short of analyst expectations, which ranged between 360,000 and 370,000. The company’s own internal estimates had set the consensus delivery figure at approximately 377,590, according to sources familiar with Tesla’s investor relations team. The performance triggered a decline in Tesla’s stock, which dropped 4% following the announcement.
“In the first quarter, we produced over 362,000 vehicles, delivered over 336,000 vehicles and deployed 10.4 GWh of energy storage products. While the changeover of Model Y lines across all four of our factories led to the loss of several weeks of production in Q1, the ramp of the New Model Y continues to go well. Thank you to all our customers, employees, suppliers, shareholders and supporters who helped us achieve these results,” the company announced in an official statement. The firm will later release its financial report for the month later this month, on April 22.
The decline in deliveries marks Tesla’s weakest performance since the second quarter of 2022. A year earlier, the company had delivered 386,810 vehicles and produced 433,371 units. And now, Tesla’s total production for the first quarter of 2025 stood at 362,615 vehicles. Tesla does not provide specific sales figures by region or model, but its first-quarter report revealed that 345,454 units of its popular Model 3 and Model Y were produced, with 323,800 of them being delivered.
The company also reported 12,881 deliveries (as well as 17,161 units being produced) of its other models, including the highly anticipated Cybertruck.Industry analysts have reacted strongly to Tesla’s underwhelming performance, with some calling it a defining moment for the company. Wedbush Securities analyst Dan Ives described the situation as a “fork in the road moment” for Tesla, emphasizing the severity of the shortfall. “We knew 1Q Tesla deliveries would be soft, but these numbers were bad,” Ives wrote on social media platform X. “We are not going to look at these numbers with rose-colored glasses… they were a disaster on every metric. Refresh issues but brand crisis key.”
One of the key factors impacting Tesla’s performance has been a series of planned factory shutdowns, which were necessary for the company to upgrade its production lines to accommodate a redesigned version of the Model Y SUV. While these upgrades are expected to improve manufacturing efficiency and enhance the product offering, they contributed to lower output in the short term. Tesla CEO Elon Musk remains optimistic about the vehicle’s future success, stating during a recent company-wide meeting that he expects the Model Y to be the “best-selling car on Earth again this year.”
Ola Electric announces new Roadster series motorcycles
Ola Electric, the recently IPOed EV upstart founded by Ola and its founder Bhavish Agarwal, has ventured into the electric motorcycle market with the launch of its new Roadster series. Announced at its annual event on August 15, this move marks a rather crucial expansion for the company as it aims to tap into India’s large two-wheeler market.
The Roadster series consists of three motorcycles: the entry-level Roadster X, the mid-range Roadster, and the premium Roadster Pro. These models are set to cater to various consumer segments, offering multiple battery and power options to suit different budgets and needs. The Roadster X is priced between ₹74,999 and ₹99,999, making it an attractive option for budget-conscious consumers. It features a motor with an output of 11 kW and can achieve a top speed of 124 km/h, with a range of up to 200 km on a single charge.
The mid-tier Roadster is positioned between ₹1.04 lakh and ₹1.39 lakh. With a peak motor output of 13 kW, it offers higher performance with a top speed of 126 km/h and a range of up to 248 km. The premium Roadster Pro, the flagship of the series, is priced at ₹1.99 lakh to ₹2.49 lakh. It boasts a powerful 52 kW motor, reaching speeds up to 194 km/h and an impressive range of 579 km on a single charge.
Ola Electric’s decision to enter the motorcycle segment comes at a time when electric motorcycles account for less than 1% of India’s overall two-wheeler sales. Additionally, Ola’s own two wheeler segment isn’t performing all that great, with consumer complaints on the sub-par technicals as well as delays in order deliveries. Electric motorcycles overal, have faced hurdles in terms of cost, performance, and market acceptance. Smaller players like Revolt and Ultraviolette Automotive have struggled to capture significant market share due to the price sensitivity of Indian consumers.In addition to the motorcycles, Bhavish Aggarwal, Chairman and CEO of Ola Electric, also unveiled Ola’s upcoming battery technology, the BharatCell. This next-generation battery, designed and manufactured in India, represents a key milestone for the company. The 4680 cell is expected to be integrated into Ola scooters by the first quarter of FY26. Ola Electric’s entry into the motorcycle market comes on the heels of its recent public market debut and at a time when it is seeking to broaden its EV offerings.
Beyond motorcycles and batteries, OlaElectric claims that is expanding its technological and infrastructural capabilities. The company is working on artificial intelligence (AI) technologies under its arm Ola Krutrim, although the initial launch was heavily scrutinised and ridiculed across the internet for its initial chatbot being a mere wrapper over OpenAI’s ChatGPT. It has even more ambitious claims, such as the one to design India’s first AI silicon chip by 2026, aiming to improve AI performance and processing across its operations. Ola Krutrim will also introduce Bodhi, Sarv, and Ojas chips tailored for various AI workloads.
